LESSON 1
Earning Money
LESSON 1
Earning Money
Money is what we use to conduct commerce. I am not going to get into the whole
idea of money, and whether we need to go back to the gold standard. I am simply
stating that money, currency, or dollars and cents is what we use to function in
the matter of working, buying, and selling. Generally, the more valuable our
work, the more money we make. My first paying job was shoveling snow off driveways for a few dollars. The longer the driveway, the more I charged. I then moved
on to grass cutting and received $3.00 at one yard and $4.00 at another. I even
had a paper route, but that was a lot of walking and had to be done every day.
Plus, I didn’t like dogs, or rather they didn’t like me. So that job only lasted a few
weeks. None of those jobs required any special training, and as a result I received
low compensation.
When I turned 16, I worked as a busboy, then a stock boy, and finally a carpenter’s helper, all of which paid minimum wage. The minimum wage is set by the
government as a standard for paying workers over 16. That year I got between
$1.40 and $1.60 per hour for each of these jobs.
Then at the end of the summer of working as a carpenter’s helper, I was asked
to paint the back gutter of a two-story house. It required being on a ladder three
stories up. First I stripped the gutter, then primed it and finally painted it. I worked
for five hours and went inside to be paid. The man asked me what I thought it was
worth, and after some quick thought I took a deep breath and mentioned $15.00,
which was double what I had been getting paid. He quickly wrote out a check
for $20.00. When I told my dad about it, he said it was hard to find painters
willing to be on a ladder, and that what I had done was specialized work. But that
wasn’t the end of the story. The next-door neighbors who had seen me painting
the gutter asked me to do the high trim on their home. I worked eight hours and
EARNING MONEY - LESSON 1
11
charged $32.00. Receiving $4.00 per hour, I felt rich! But more importantly, I
was learning a lesson in economics about the relationship between money and the
value of labor.
Hourly Pay
All of the jobs I had when I was in high school were remunerated by the hour.
If I worked 10 hours, I was paid for 10 hours. When I worked full time during the
summer, I received a weekly paycheck based on how many hours I was on the job.
Usually this was 40 hours, but if it rained it may have been 32 hours.
If you work by the hour and want to figure your salary for a year and not just
a week, I have found a quick way to estimate it. Take your hourly wage, double it,
then add three zeros to the end. If you work for $4.00 per hour, doubling it makes
$8.00 and adding three zeros makes $8,000.00. Here is why it works: Generally,
an average work week is 40 hours. That is five days per week and eight hours a day.
Since you usually work 50 weeks, 40 hours times 50 weeks is 2,000 hours. So $4.00
times 2,000 hours is $8,000.00. The 4 is doubled (x2), and multiplying by 1,000 is
the same as adding three zeros.
Overtime Pay
A normal work week is 40 hours. If you work more than that, it is called
overtime and your pay is computed differently. These numbers will vary, but generally it is 1.5, or one and a half, times a normal hourly wage. If you receive $9.00 per
hour and work overtime, you would get $13.50 per hour for the hours beyond 40.
If Raleigh is paid $9.00 per hour and worked 46 hours last week, he gets 40 x $9.00
for the normal weekly salary plus 6 x $13.50 for overtime, or $360.00 + $81.00 =
$441.00.
If you work on a holiday you get “holiday pay,” which is double your normal
pay. If Raleigh worked 40 hours, plus nine hours on a holiday, he would receive 40
x $9.00 + 9 x $18.00, or $360.00 + $162.00 = $522.00.
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LESSON 1 - EARNING MONEY
STEWARDSHIP
Piecemeal
Another way to earn money is what is referred to as piecemeal, per piece, or by
the job. When you assemble block sets for me, I pay you by the piece. The faster
you work, the more you make. My grandfather used to say you work by the (read
slowly) hour . . . after . . . hour . . . after . . . hour, or (read quickly) the jobbity-jobjob. If you were paid by the hour, you would not get nearly as many blocks sets
assembled as you would if paid by the piece—am I correct? It is human nature.
All of my early work experiences­— mowing lawns and shoveling snow — were
paid by the job. Delivering papers was by the paper, or by the piece. There are many
jobs today that still operate this way and pay piecemeal. Those who hang drywall
are often paid by the number of sheets hung on a job. Some delivery companies
reimburse their workers by how many packages they pick up and/or deliver.
Commissions
Then there is a salesman’s wage, or commission. Salesmen are paid by how much
they sell. The more they sell, the more they earn. A commission is a percentage of
the total sale. Real estate salesmen are often paid a flat 3% commission for their
work in helping someone sell or purchase a house. If they help sell a house that
costs $53,000.00, their commission is $53,000.00 times 3% (.03), or $1,590.00.
They may sell one house per day in a good week. The flip side is that they may sell
only one house a month during a rough stretch. Making a bunch in one week and
then very little for a few weeks is called “feast or famine.” Salesmen who work on
a pure commission basis work harder than most, since their livelihood depends on
their sales. An encyclopedia salesman might receive a 15% sales commission. On a
set that runs $1,200.00, this comes to a check for $180.00. If he sells one per night,
then sales are good, but if he sells one per week, then he is hungry. Often companies have a base salary for salesmen with a commission added on. This way they are
not totally dependent on selling but still retain the incentive, since the more they
sell, the more they make.
ST E W A R D S H I P
EARNING MONEY - LESSON 1
13
14
LESSON 1 - EARNING MONEY
STEWARDSHIP
LESSON 2
Percent
LESSON 2
Percent
­­­­We’ll begin this lesson with a review of what a percent is, and then study how to
find a percent. We can change a fraction to a decimal by placing a tenth overlay
on top of it. We can go a step further and place the other tenth overlay on top of
the first one at a 90 degree angle. See figure 1. Here we change 2/5 to 4/10 to 40/100.
Notice that 4/10 = .4 and 40/100 = .40.
Figure 1
2
5
=
4
10
=
.4
40
100
.40
In figure 2 we take the 40/100 and show how that fraction is transformed to a
percent by taking the one and the two zeros from the number 100 in the denominator and changing them into a percent sign. Now we see how to transform a
fraction (2/5) to a decimal (.4) to a percent (40%).
Figure 2
40 40
100 00
40
0
40%
40%
PERCENT - LESSON 2
15
Percent means “per hundred.” A percent is another way of writing hundredths.
If you can change a fraction to hundredths, then you can easily change it to a
percent. The converse is also true. If you have a percent, you can immediately
restate it in the form of hundredths. To take a percent of a number, simply change
it to hundredths and multiply it by the number. See example 1.
Example 1
Find 25% of 36.
25% = .25 and .25 x 36 = 9
So 25% of 36 is 9.
Another way to solve the same problem would be to change 25% to a fraction,
then reduce it and multiply to find a fraction of a number. See example 2.
Example 2
Find 25% of 36.
25% = 25 = 1
100
4
1 × 36 = 9
4
Both ways will work. Some problems are easier to work with fractions and
others are easier with decimals.
One of the easiest ways for me to think of percents is in terms of money. One
percent means one per hundred, or one penny for each dollar. Three percent of
one dollar is three pennies per dollar or three cents. Ten percent of one dollar is
10 pennies per dollar or 10 cents. A common ap­­plication of percents is finding
the tithe, or the tenth. One tenth is the same as 10/100 or 10%. One tenth means
1 divided by 10. When you divide by 10 you simply move the decimal point over
one place to the left, making it smaller by one decimal place.
1/10 or 10% of 6.53 is .653.
1/10 or 10% of 17.50 is 1.75.
Now once you have mastered 10%, you can use this trick to figure out 20%, or
any multiple of 10%. For example, to find 20% of 4.13, first find 10% by moving
the decimal point to the left, making it 1/10 of what it was, so it is smaller. Ten
percent of 4.13 is .413. To find 20%, double it, or multiply it by two, which gives
us .826. Now we know that 20% is the same as 20/100, or .20 written as a decimal.
16
LESSON 2 - PERCENT
STEWARDSHIP
We could have multiplied 4.13 by .20 (or .2) and gotten .826, but I am trying to
teach you to do this in your head so you can use this skill in a restaurant!
TIPS
If you tip a waiter in an eating establishment, you need to figure 15%. The 15%
is calculated on the amount of the food bill, not the food bill plus the tax. I do this
by figuring 10% and then taking half of that for the 5%. Here is an easy example.
You get the bill and are ready to leave a tip. The bill is $24.00. So 10% is $2.40, and
half of that (5%) is $1.20; $2.40 plus $1.20 is $3.60, and that is the tip. If you want
to know how I really do it, I like to round up or down depending on the service.
If I got really good service I would leave $4.00. But if it was okay, and maybe not
what it could be, then $3.00 might do. I always leave something, because usually
the waiters are paid a minimum salary plus their tips, so they need to receive some
tip. I have friends who will not leave any tip if the service was really bad, but
everyone has to make their own decisions. The standard tip is 15% or 16%. If you
eat out for a special occasion with a number of guests, make sure you don’t tip
twice. Some restaurants automatically figure the tip into the bill when serving a
large group. Now you know to check for this.
I have also done a good bit of traveling and plan on taking a lot of one-dollar
bills when I do. I tip the parking service if I leave a car at the garage and he helps
me take my bags into his van and unload them at the curb. I usually tip $1.00 per
bag handled. The same applies for curb-side boarding, where they help unload the
car and check your bags without the line inside of the airport.
I also give a tip to my paper delivery carrier. More and more this is becoming
standard procedure. It is up to you to find out what is honorable. My paper bill
comes to $72.10 each quarter, so I make the tip an even $8.00, which is about
10%, and it seems to please the carrier. At least he delivers my paper where I can
see it! 
SALES TAX
Another area of percents you run into regularly is sales tax. This tax varies
from state to state. When you learn it you will know the real cost of what you are
buying. Include sales tax in your calculations, particularly when you are purchasing
a large ticket item like a washing machine or a used car. Five percent is pretty easy
to figure: just find 10% and cut it in half. So if you are buying a washing machine
ST E W A R D S H I P
PERCENT - LESSON 2
17
at $350.00, take 10%, which is $35.00, and cut it in half to get $17.50, and then
add the tax on to the original price. So $350 + $17.50 is $367.50, which is the real
cost for the washer.
In Pennsylvania we have a 6% sales tax. There are two ways to figure it. The
most direct is to multiply the total by .06. Another way is to do it in your head.
First find 5% by taking half of 10%. To find the 1% move the decimal of the total
amount two places to the left. If the amount you are being charged is $120.00,
10% is $12.00, and half of that is $6.00. One percent of $120.00 is $1.20, so since
6% is 5% plus 1%, then the tax is $6.00 plus $1.20, or $7.20. The direct way is to
multiply $120.00 by six and then move the decimal point two places to the left for
$7.20. Either way will work.
PAYING BILLS
When you see 1% 10 Net 30 Days on an invoice (an invoice is a bill for you to
pay), it indicates two things. The 1% 10 means that if you pay your bill within 10
days, you can deduct 1% from the total. The 30 means that if you do not opt to
make use of this discount, you still have to pay within 30 days. Encouraging people
to pay quickly is a positive thing for both those paying the invoice and those being
paid. If you as the consumer could pay 1% less on items you purchase, it would
mean significant savings over a year. To the business offering the discount, cash
flow, or having cash on hand with which to do business, is vital. They may have the
best product and lots of sales, but if they aren’t being paid in a timely fashion, they
can’t pay their suppliers and workers, and eventually may have to close up shop.
Many businesses take credit cards for payments for the same reason, and for
similar fees. But more on this in another lesson.
18
LESSON 2 - PERCENT
STEWARDSHIP
LESSON 3
Taxes
LESSON 3
Taxes
Regardless of how you are paid, taxes are a big part of your paycheck. The old
saying seems to be true that the only things that are certain are death and taxes.
You will need to learn a few new terms in this lesson. We’ll begin with gross pay
and net pay. Gross pay is what you earn, whether by salary, hourly wage, piecemeal
pay, or commission. It is what you begin with, or your income. Net pay, or take
home pay, is what you really take home after the government has taken its cut of
your income. Tax on your income is called income tax. Let’s examine a few of the
cuts, or income taxes, so you will understand your paycheck. Employers are those
who hire you and pay you for your work. Those who are hired are referred to as
employees. Where I live I pay several taxes. But yours may be different, since they
vary from country to country, state to state, county to county, and school district
to school district.
FEDERAL WITHHOLDING TAX
This tax depends on how much you earn in a year. The more you earn, the
greater the percentage of your earnings you pay. This is taken from your pay­check
and is usually deposited in a local bank by your employer, and then transferred
to the Internal Revenue Service, or IRS. When you get a job, you will be asked
to fill out a W-4 form, which determines how many exemptions you have. If you
are single, you don’t have any extra exemptions. When you are married with a few
kids, you can get as many as eight exemptions for a family of five. In the example in
figure 1, I will compute the pay check with two exemptions and with eight exemptions so you can see the difference.
TAXES - LESSON 3
19
STATE TAX
Some states don’t have this tax, and the amount varies from state to state. In
my state it is also taken from your paycheck by your employer and then sent to the
state treasury. For me this is a percentage of the gross pay.
COUNTY TAX
This is one of the smaller taxes, and again it is sent directly to the county treasurer without ever touching your hands. In my county it varies for each local school
district. Our school district rate is 1.65%, which is high, since the surrounding
districts are 1%.
FICA
This acronym stands for Federal Insurance Contribution Act and is the first of
several federally imposed payroll taxes. I call these taxes “double dips” because not
only does the government take 6.20% from your paycheck for the Social Security
portion, but the employer has to match the “contribution” and pay 6.20% as well.
FICA funds both Social Security and Medicare. The rate for the Medicare portion
is 1.45%. It, too, is matched by the employer. Both of these taxes, Social Security
and Medicare, are part of the money deposited at the local bank by the employer
and then sent to the government.
SUI
State Unemployment Insurance (SUI) is put into a fund and then withdrawn
by those who have lost their job or are out of work. The employee rate is .09% on
all of his or her annual earnings. The employer pays 2.072% on the first $8,000.00
earned. This tax is instituted when there are high unemployment rates, so it varies
from year to year.
A PAYCHECK
If you receive a weekly paycheck of $846.15 (gross pay), here is what you would
be able to take home in my state.
20
LESSON 3 - TAXES
STEWARDSHIP
Figure 1
Tax
8 Exemptions 2 Exemptions
Federal Withholding 21.50 72.01
State 3.07% 25.98 25.98
County
1.65% 13.96 13.96
FICA
6.20% 52.46 52.46
FICA
1.45% 12.27 12.27
SUI 0.09% .76 .76
Total Employee Taxes $126.93
$177.44
Your net pay is $719.22 with eight exemptions and $668.71 with only two
exemptions.
Don’t forget, the employer also has to pay taxes on what you earn. They don’t
come out of your paycheck, but you may see them referred to as employer expenses.
Most of the employer taxes have been mentioned, but here they are spelled out
again. The one new tax is FUTA, which stands for Federal Unemployment Tax
Act. It is computed on the first $7,000.00 of wages earned. It will appear on your
paychecks as an employer expense, not an employee expense, in the beginning
of the year, until you have reached the maximum contribution. Eight percent of
$7,000.00 is $56.00.
Figure 2
FUTA
0.8%
FICA
FICA
SUI
6.77 6.77
6.2% 52.46 52.46
1.45% 12.27 12.27
2.072% 17.53 17.53
Total Employer Taxes $89.03 $89.03
If you earned $846.15 and were self-employed, you would have to contribute
a total of another 7.65% for the employer’s portion of the FICA— Social Security
(6.2%) plus FICA Medicare (1.45%). Think of a self-employed worker as the
employer and employee!
ST E W A R D S H I P
TAXES - LESSON 3
21
22
LESSON 3 - TAXES
STEWARDSHIP
Lesson 1.1 Earning Money
1.Vaughn earns $6.00 per hour. What are his wages for the first week
if he works 34 hours?
2.The second week, Vaughn works 43.5 hours. Now what are his wages
for this week?
3.The third week, Vaughn works 47 hours. What are his wages for
this week?
4.Jen is keeping track of Vaughn’s wages and wants to know his average
hourly wage for the first three weeks. Can you help her?
5.If Mark is paid $11.75 per hour, what can he expect his yearly income to be if he works 40-hour weeks with no overtime?
STEWARDSHIP 3
L E SS O N P R A C T I CE 1.1
6. Peter is paid $27,000.00 salary per year. How much per hour does
Peter make?
7.Charley just sold his first house as a real estate salesman. His
commission is 3%. The house sold for $79,500. How much did
he receive from the owner?
8.Caitlyn is paid 11¢ for each DVD she places in a jacket with the
paper insert. Last week she finished eight cases of 100 in six hours.
How much did she make? How much did she make per hour?
9.Cameron receives $1.25 for each completer set he assembles. He
did 25 sets in 2 hours and 45 minutes. How much did he make and
what was his hourly rate?
10.Would you rather be paid by the hour or the piece? What are the
advantages of each?
L ESSO N PRAC TI C E 1. 1
4
STEWARDSHIP Lesson 1.2 Earning Money
1.Joseph earns $10.75 per hour. What are his wages for the first week if
he works 38.5 hours?
2.The second week, Joseph works 51 hours. What are his wages for
this week? Round to the nearest cent.
3.The third week, Joseph works 48.25 hours. What are his wages for
this week? Round to the nearest cent.
4.Joseph is keeping a record of his wages and wants to know his average
hourly wage for the first three weeks. Can you help him?
5.If John is paid $18.33 per hour, what can he expect his yearly income
to be if he works 40-hour weeks with no overtime?
STEWARDSHIP 5
L E SS O N P R A C T I CE 1.2
6.Isaac is paid $44,500.00 salary per year. How much per hour does
Isaac make?
7.Andrew just sold a house as a real estate salesman to a customer who
was looking for one. Because he represented the buyer and the seller,
his commission is 3% for selling and another 3% for buying.
The house closed for $112,000. How much did he receive for his commission?
8.Zarah makes 60¢ for filling a fraction kit with plastic inserts. She
made 47 kits this week. How much was her check, and how much
was her hourly wage if she finished the work in 3 hours and 15 minutes?
9.Becky receives 45¢ for each set of inserts she assembles. She did 83
sets in 3 hours and 30 minutes. How much did she make and what
was her hourly rate?
10.Would you rather be paid by a commission or with hourly wages?
What are the advantages of each?
L ESSO N PRAC TI C E 1. 2
6
STEWARDSHIP Lesson 1.3 Earning Money
1. Raleigh earns $7.50 for each hour he works. What is his paycheck for
the week if he works 25 hours?
2.The second week, Raleigh works a total of 41 hours. What does his
paycheck look like for this week?
3. Vontoria receives a wage of $8.25 per hour. What will her yearly
income be if she works all 40-hour weeks with no overtime?
4. Caryl receives an annual salary of $52,500.00. How much per hour
does she make?
5.Leah just sold a set of encyclopedias for $950.00. Her commission is
15%. What was her profit?
STEWARDSHIP 7
L E SS O N P R A C T I CE 1.3
6. What group of people examined the scriptures to see if what Paul
was teaching was accurate?
7. Where in the Bible are we encouraged to ask?
8. What is the key requirement for successful asking?
9. Who owns the cattle on a thousand hills?
10. In your own words, what is a steward?
L ESSO N PRAC TI C E 1. 3
8
STEWARDSHIP Lesson 1.4 Earning Money
1. Zarah is paid $9.25 per hour. What are her wages for the week when
she works 38 hours?
2.The next week, Zarah puts in 48 hours. How much is her paycheck?
Round to the nearest cent.
3.
velyn receives a wage of $20.00 for each hour she labors. If she puts
E
in a full year of 40-hour weeks, what is her annual income?
4. After her accountant contacted her, Donita found that her annual
income was $75,000.00. How much per hour did she average?
5. Anna found a buyer for a bread machine. The retail cost is $375.00
and her commission is 20%. How much did she make?
STEWARDSHIP 9
L E SS O N P R A C T I CE 1.4
6. What is another word for “happy” in Proverbs?
7. What passages in Proverbs indicate that Jesus is wisdom in the flesh?
8. Rewrite Proverbs 8:27 and 8:30 replacing “I” with “Jesus.”
9. Complete the sentence. The primary characteristic of a steward is
____________________ .
10. Complete the verse. “Know therefore this day, and consider it in
thine heart, that the Lord, He is God in heaven above,
______________________________________________:
there is none else” Deuteronomy 4:39.
L ESSO N PRAC TI C E 1. 4
10
STEWARDSHIP Lesson 2.1 Percent
1.At the restaurant the bill came to $37.25. If you left a tip for 15%,
how much does the waitress receive?
2.The food tax is 5%. How much does this add to the bill?
3.I like to pay in round numbers. If you choose to do this, what
would you add to the tip in #1 to make the final bill just dollars
and no cents? What is the final tally?
4.This week we went to an “all-you-can-eat” spaghetti dinner. Johnny
ate three plates of noodles and sauce. The bill was $26.95 for the
three of us. How much is a normal tip?
5.How much do you think I left for the tip since the waitress had to
come back to the table two extra times and gave great service?
STEWARDSHIP 11
L E SS O N P R A C T I CE 2.1
6.
The sales tax is 5%. How much does this add to the bill?
7.What is the final bill for the spaghetti dinner with a little extra for
the waitress and rounded to the nearest dollar?
8.I received a bill on the May 17 for $874.50. Also on the invoice is a
line that said 1% 10 net 30. It is now May 23. How much do I send?
9.I also had an invoice come in for $1,358.00. On the bill it said 2% 15
net 30. It has been five days since I received this in the mail. Should
I take advantage of this discount, and if so, how much will I save?
FOR #10–11:
Property Tax........$ 573.92
If paid in April or May
5% discount
If paid in June or July
2% discount
If paid in August or September Full amount
If paid after September 30
1% penalty
10.
If I pay my property tax bill in April, how much is it?
11.
What is the total amount if I send it in on October 29?
L ESSO N PRAC TI C E 2. 1
12
STEWARDSHIP Lesson 2.2 Percent
1.At the Outfront Steak House the bill came to $76.85. If you left a
tip for 16%, how much did the waitress receive?
2.
The sales tax is 6.75%. How much does this add to the bill?
3.I like to pay in even dollars. Add or take away a few cents and find
the total of the bill.
4.For Sandi’s birthday we went to Carrumbbas Restaurant. The bill is
$93.20. What is the 15% tip?
5.Even though the other workers came and sang to Sandi, overall the
service was poor. How much tip do you think I should leave?
6.
The sales tax is 7.25%. How much does this add to the bill?
STEWARDSHIP 13
L E SS O N P R A C T I CE 2.1
7.What is the final tally for the meal in #4, including tax and tip and
rounded to the nearest dollar?
8.I received a bill on August 9 for $1,299.00. Also on the invoice is
a note that said 1% 10 net 30. It is now August 20th. How much
do I send?
9.An invoice came for $265.00. On the bill it said 2% 10 net 30.
It has been 17 days since I received this in the mail. How much
am I expected to pay?
FOR #10–11:
Property Tax........$ 1,002.73
If
If
If
If
paid
paid
paid
paid
in April or May
5% discount
in June or July
2% discount
in August or September Full amount
after September 30
1% penalty
10.
If I pay my property tax bill in July, how much is it?
11.
What is the total amount if I send it in on September 19?
L ESSO N PRAC TI C E 2. 1
14
STEWARDSHIP Lesson 2.3 Percent
1. The bill at Ruby Mondays came to $29.60. I left a tip for 16%.
How much does the faithful waiter receive?
2.
The sales tax is 6%. How much does this add to our bill?
3. our dad received a bill on August 1 for $1,075.00. On the invoice
Y
is a note that said 2% 10 net 30. It is now August 12. How much
should he send?
FOR #4–5:
Property Tax........$ 573.92
If paid in April or May
5% discount
If paid in June or July
2% discount
If paid in August or September Full amount
If paid after September 30
4. How much do I save by paying in May?
5. How much extra do I pay if I wait until October to pay the bill?
1% penalty
6. Chance is recompensed 15¢ for each skip count CD and booklet he
assembles. This week he finished 12 cases of 100 in 15 hours. How
much did he make? How much did he make per hour?
STEWARDSHIP 15
L E SS O N P R A C T I CE 2.3
7. Devan is a great block assembler and is paid $1.05 for each set. He
was able to put together 54 sets in four hours. What was his profit
and how much did he make per hour?
8. Is money intrinsically evil?
9. Fill in the blanks. And thou shalt love the Lord your God with all
thy ____________, and with all thy ____________, and with all thy
____________, and with all thy ____________ Mark 12:30.
10. Is it possible to serve two masters?
L ESSO N PRAC TI C E 2. 3
16
STEWARDSHIP Lesson 2.4 Percent
1.Since my wife was gone most of the day, we located a Chinese buffet
for dinner. There were four of us at $9.50 per person. How much
was the cost of the food?
2. The sales tax is 6.5%. Since it was a buffet we left only 5% for
a tip. What was our total tab?
3. An invoice arrived for $2,857.00. In small print it reads 2% 15 net
30. How much will I save by paying 10 days later?
FOR #4–5:
Property Tax........$ 1,002.73
If paid in April or May
5% discount
If paid in June or July
2% discount
If paid in August or September Full amount
If paid after September 30
4. How much do I save by paying in June?
5. How much will I pay if I send in the check on August 31?
STEWARDSHIP 17
1% penalty
L E SS O N P R A C T I CE 2.4
6. Leslie assembles wooden boxes at a rate of $1.25 per set. She was able
to put together 42 sets during the afternoon. How much did she
earn? If it took her four hours, what was her average hourly wage?
7. Jen has the most agile fingers as she produces fraction kits. She
receives 60¢ for each one she completes. This weekend she produced
103 kits in five hours. How much did she earn and what did that
average out to per hour?
8. What is an idol?
9. In Luke 12:1 Jesus warned His disciples to beware of the leaven of
the Pharisees, which is hypocrisy. What other characteristics did the
Pharisees have in Luke 16:14?
10. Why was the rich young ruler sad?
L ESSO N PRAC TI C E 2. 4
18
STEWARDSHIP Lesson 3.1 Taxes
For all of the problems in this lesson, round the amount of the wage
to the nearest cent before finding the tax. Use the tax rates in lesson 3
of the instruction manual for all of the problems.
1.What is your gross bi-weekly paycheck if you earn $22,800.00
annually and throughout the year, you receive 26 paychecks?
What are your taxes for each check? Use 8.5% to compute the
federal withholding portion of your tax.
___________________
State ___________________
County ___________________
FICA ___________________
FICA ___________________
SUI ___________________
Federal withholding
Total ___________________
2.
What type of tax is the highest for you?
3.
What type of tax is the lowest for you?
4.
How much does your employer contribute?
FUTA ___________________
FICA ___________________
FICA ___________________
SUI ___________________
STEWARDSHIP 19
Total ___________________
L E SS O N P R A C T I CE 3.1
5.This year you are a real estate salesman. You sold an average of one
house per week, and the average price of each house was $78,000.00.
If your commission was 3%, what was your annual salary and average
weekly salary, figuring 50 work weeks?
6.What was your average weekly take-home pay? Use 12% to compute
the federal withholding tax.
___________________
State ___________________
County ___________________
FICA ___________________
FICA ___________________
SUI ___________________
Federal withholding
Total ___________________
7.If you contribute 10% of your weekly take-home pay, what is your
weekly contribution?
L ESSO N PRAC TI C E 3. 1
20
STEWARDSHIP Lesson 3.2 Taxes
For all of the problems in this lesson, round the amount of the wage to the
nearest cent before finding the tax. Use the tax rate tables in lesson 3 of the
instruction manual.
1.Last year Gina completed 485 cases of DVDs at 11¢ per DVD with
100 DVDS in a case. What is her annual income?
2.If her income is less than $10,000.00 her federal withholding will
be 2%. How much did she give to Uncle Sam in the form of her total
personal income tax?
___________________
State ___________________
County ___________________
FICA ___________________
FICA ___________________
SUI ___________________
Federal withholding
Total ___________________
3.Joseph works an average of 45 hours per week and is compensated
$17.75 per hour as his base rate (before any overtime). What is his
base pay, at 40 hours per week?
4.Since he gets five hours at time and a half, what is Joseph’s gross pay
per week?
STEWARDSHIP 21
L E SS O N P R A C T I CE 3.2
5.What is Joseph’s net pay per week after taxes, figuring 9% for federal
withholding tax?
___________________
State ___________________
County ___________________
FICA ___________________
FICA ___________________
SUI ___________________
Federal withholding
6.
Total ___________________
How much does his employer contribute?
FUTA ___________________
FICA ___________________
FICA ___________________
SUI ___________________
Total ___________________
7.What would his weekly tithe contribution be if it was figured
on the gross?
L ESSO N PRAC TI C E 3. 2
22
STEWARDSHIP Lesson 3.3 Taxes
For all of the problems in this lesson, round the amount of the wage
to the nearest cent before finding the tax. Use the tax rates from the
instruction manual.
1. What is one gross bi-weekly paycheck if you earn $43,500.00
annually and throughout the year receive 26 paychecks? What are
your taxes for each check? Use 8.5% to compute the federal withholding portion of your tax and calculate with no exemptions using
the percentages in the instruction manual.
___________________
State ___________________
County ___________________
FICA ___________________
FICA ___________________
SUI ___________________
Federal withholding
Total ___________________
2. Add up all of the percents to see the total percent of your bill that is
going to taxes.
3. What is your take-home pay?
STEWARDSHIP 23
L E SS O N P R A C T I CE 3.3
4. How much does your employer contribute?
FUTA ___________________
FICA ___________________
FICA ___________________
SUI ___________________
Total ___________________
5. If you contribute 10% of your weekly take-home pay, what is your
weekly contribution?
6. Cal and Kathie went out to the Cabana for dinner. The bill was
$48.50. Tax in this part of the state is 6.5%. How much was the
final bill?
7. The service was excellent so they left a nice tip of 18% and
rounded the whole bill up to the nearest dollar. How much did
Cal pay altogether for the meal?
8. Name two of the Ten Commandments that are related to stealing.
You can find these in Exodus 20 or Deuteronomy 5.
9. What is the opposite of coveting?
10. What are the two great commandments?
L ESSO N PRAC TI C E 3. 3
24
STEWARDSHIP Lesson 3.4 Taxes
For all of the problems in this lesson, round the amount of the wage
to the nearest cent before finding the tax. Use the tax rates from the
instruction manual.
1. Last year Jaypo assembled 125 cases of folders. A case holds 40
folders, and she is compensated 65¢ for each folder. What is her
annual income?
2. If her annual income is less than $10,000.00, her federal withholding
will be 2%. How much was taken from her income in the form of
personal income tax?
___________________
State ___________________
County ___________________
FICA ___________________
FICA ___________________
SUI ___________________
Federal withholding
Total ___________________
3. Bethany works an average of 38 hours per week and receives $15.25 per
hour as her base pay. How much does she earn each week?
4. Since she put in 16 weeks over the summer, how much did she make
from May to September?
STEWARDSHIP 25
L E SS O N P R A C T I CE 3.4
5. If Bethany returns 10% of her weekly pay, what is her
weekly contribution?
6. Bob and Tina went to F.P. Chungs on their anniversary for some
interesting food. The cost for all of the food was $37.75. With tax
being 5%, what was the price for the evening?
7. They decided to get their meal takeout to eat on the beach. How much
did they save if they normally leave a tip of 16%?
8. Fill in the blank. For God so loved the world that He ____________
His only begotten son John 3:16.
9. Complete the sentence. If coveting is selfishly taking, then love is
______________ _______________.
10. Complete the sentence. Loving and coveting are ____________
______________.
L ESSO N PRAC TI C E 3. 4
26
STEWARDSHIP LESSON TEST 1
Earning Money
1.Chuckie is being paid $12.80 per hour as a welder. His first week, he
worked 38 hours. How much did he earn?
2.The next week Chuckie worked 45 hours to finish a big job on a tractor.
How much did he make that week?
3.The third week he put it 42.5 hours. What is his average hourly salary for
the three weeks?
4.If Andy receives $13.25 per hour consistently each week, estimate how
much he can expect to earn in one year.
5.Last year Philip earned $39,000.00. What was his average hourly wage if
he worked an average of 40 hours per week?
LESSON TEST 1
3
6.Jacob just took home his first commissions check. He agreed to help Laban
sell the family farm for 3% of the sale price. The selling price of the farm
was 180,000 dinars. How many dinars did Jacob earn?
7. Rebekah is paid .25 dinars for each goat that she cares for by giving it water
and grain. In four hours she provided for 218 goats. How many dinars did
she receive for her faithful labors?
8.Daniel just sold his first set of Bible story books for $160.00. He makes a
35% commission on each sale. How much did he earn on this sale?
9.
Which book in the Bible has much to teach about wisdom?
10.Our aim as stewards of God’s resources is to be found ________________.
4
LESSON TEST 1
STEWARDSHIP
LESSON TEST 2
Percent
1.On Thursday Steve and Sandi ate lunch at Lapp’s Deli. Our meals added up
to $23.80 and the food tax is 6%. How much was our bill?
2.I also wanted to leave a tip of 17% since the waitress did a good job. How
much did I add to the bill?
3.Since I like to round up the final bill to the nearest dollar, including the tax
and tip, what was the final amount I charged to my credit card?
4.When I returned home from a trip to a curriculum fair, I found several bills
on my desk. The first one was dated April 3 for $736.00. At the top of the
bill it read 2% 10 net 25. By what date do I have to pay the bill in order to
receive the discount?
5.
How much is the discount in #4?
6.When is the latest I can send the check to pay the invoice of $736.00, if I
don’t take advantage of the discount?
LESSON TEST 2
5
FOR #7–8: Property Tax
$1,895.00
If paid in July/August
5% discount
If paid in September/October
2% discount
If paid in November/December
full amount
After December 31
1% penalty
7.
If I send in the payment August 17, how much will I pay?
8.
If I choose to pay in January, what is the amount of the bill?
9.Fill in the blank.
“The ____________ of money is a root of all kinds of evil”
1 Timothy 6:10, ASV.
10.Fill in the blank.
“No man can serve __________ ______________: for either he will hate
the one, and love the other; or else he will hold to the one and despise the
other. Ye cannot serve God and mammon” Luke 16:13, ASV.
6
LESSON TEST 2
STEWARDSHIP
LESSON TEST 3
Taxes
1.
What is your gross weekly paycheck if you earn $37,440.00 for 52 weeks?
FOR #2–4: Find the amount of each type of tax on your weekly paycheck, using
the gross pay given in #1.
2.
Federal Withholding (8.5%) ____________
State Tax (3.07%) _______________
3.
County (1.65%) ____________
FICA, SS (6.2%) _______________
4.
FICA, Med. (1.45%) _______________
SUI (.09%) ____________
LESSON TEST 3
7
5.
What is the total amount of tax taken from your paycheck each week?
6.
What is your net weekly income?
7.After you figure your net income in #6, what is your actual take-home
hourly wage if you work 40 hours each week?
8.If you choose to return 10% of your gross weekly salary, less the two FICA
taxes, how much will your offering be on Sunday?
8
9.
Fill in the blank.
Love is ______________.
10.
If loving is unselfish, what is coveting?
LESSON TEST 3
STEWARDSHIP
1-888-854-MATH (6284)
www.MathUSee.com
Copyright © 2009 by Steven P. Demme
All rights reserved. No part of this book may be
reproduced, stored in a retrieval system, or transmitted
in any form, by any means—electronic, mechanical,
photocopying, recording, or otherwise.
In other words, thou shalt not steal.
Printed in the United States of America.
Stewardship
biblical foundation
LESSON 6
LESSON 7
LESSON 8
LESSON 9
LESSON 10
LESSON
LESSON
LESSON
LESSON
LESSON
Providing for Your Family
Seek First the Kingdom
Leaving an Inheritance
Marriage and Money
I Owe, I Owe, It’s Off to Work I Go
Health, Wealth, and Prosperity
Honor the Lord with Your Substance
Glorifying God
Compensating Church Work
Work Is a God Thing
Faithful Steward
The Root of All Kinds of Evil
Loving God or Coveting
Trusting God and Being Content
The Heart of a Man
INTRODUCTION Believing Bereans Who See Jesus
LESSON 11
LESSON 12
LESSON 13
LESSON 14
LESSON 15
Giving
The Gift of Giving
Offerings
Purchasing Begins with Prayer
Purchasing with Discernment
1
2
3
4
5
LESSON 16
LESSON 17
LESSON 18
LESSON 19
LESSON 20
Purchasing Carefully
Purchasing with Peace
Just and Fair
Getting Rich Quickly
Standing Before Kings
Hezekiah’s Open Checkbook
Bribes for the Blind
The Yoke’s on You!
Guard Your Signature
Dirty Hands
The Lord Bless and Keep You
Thanks Giving
LESSON 21
LESSON 22
LESSON 23
LESSON 24
LESSON 25
LESSON 26
LESSON 27
LESSON 28
LESSON 29
LESSON 30
APPENDIXA
APPENDIXB
SCRIPTURE INDEX
ASV — The American Standard Version is public domain.
BIBLICAL COPYRIGHTS
Believing Bereans Who See Jesus
introduction
AKJV — The American King James Version is public domain.
KJV — The King James Version is public domain.
ESV — The Holy Bible, English Standard Version. © 2001, by
Crossway Bibles, a division of Good News Publishers. Used by
permission. All rights reserved. The “ESV” and “English Standard
Version” are trademarks of Good News Publishers. Use of either
trademark requires the permission of Good News Publishers.
NASV — New American Standard Bible © 1960, 1962,
1968, 1971, 1972, 1973, 1975, 1977, 1995 by The Lockman
Foundation, La Habra, California. All rights reserved.
NLT — Scripture quotations marked NLT are taken from the
Holy Bible, New Living Translation, © 1996. Used by permission
of Tyndale House Publishers, Inc., Wheaton, Illinois 60189. All
rights reserved. New Living and the New Living Translation logo
are registered trademarks of Tyndale House Publishers, Inc.
RSV — Revised Standard Version of the Bible, © 1952 [2nd
edition, 1971] by the Division of Christian Education of the
National Council of the Churches of Christ in the United States
of America. Used by permission. All rights reserved.
This book began as a means of teaching my four sons (all
now in their twenties) what God had taught me about having my own business and handling money. I hope it is also
helpful to you. It is not meant to be the definitive word on
finance in the scriptures. Rather, it is my testimony, and my
wife’s, of how God has led and taught us from His Word in
the everyday experiences of life for the past quarter of a century. I am going to give many specific scriptures and how
they have been applied in my life. You may not agree with
my conclusions, but I hope we can all be Bereans and search
the scriptures to see whether what I have written is true.
“Now these were more noble than those in Thessalonica, in that they received the word with all readiness of the
mind, examining the Scriptures daily, whether these things
were so” Acts 17:11, ASV.
It is my earnest hope that this collection of devotionals will stimulate discussion between parents and children
as they consider issues of finance and examine them in the
light of the eternal principles found in God’s Word.
If you think of a topic you wish I had covered, or a specific insight that God has given you, please communicate
with me via email. I can be reached at [email protected].
If you would like to be kept abreast of new developments
5
INTRODUCTION - BELIEVING BEREANS WHO SEE JESUS STEWARDSHIP
Jesus talking of Himself and His relationship with His Father, closing in an exhortation to us as His children to follow Him and keep His ways.
“The Lord possessed me in the beginning of his way,
before his works of old. I was set up from everlasting, from
the beginning, or ever the earth was. When there were no
depths, I was brought forth; when there were no fountains
abounding with water. Before the mountains were settled,
before the hills was I brought forth: while as yet he had
not made the earth, nor the fields, nor the highest part of
the dust of the world. When he prepared the heavens, I was
there: when he set a compass upon the face of the depth:
when he established the clouds above: when he strengthened the fountains of the deep: when he gave to the sea his
decree, that the waters should not pass his commandment:
when he appointed the foundations of the earth: then I was
by him, as one brought up with him: and I was daily his delight, rejoicing always before him; rejoicing in the habitable part of his earth; and my delights were with the sons
of men. Now therefore hearken unto me, O ye children: for
blessed are they that keep my ways” Proverbs 8:22–32.
As you seek to understand wisdom, seek also for a fresh
glimpse of Jesus within the book of Proverbs. I chose Proverbs 3:13–18 to introduce us to Proverbs because I believe
it sets the tone for the rest of the book. My comments follow the verses.
“Happy is the man that findeth wisdom, and the man
that getteth understanding” Proverbs 3:13.
Another word for happy is blessed. You will be blessed
and happy when you acquire wisdom, and Jesus is wisdom
in the flesh. He is the Word incarnate.
STEWARDSHIP BELIEVING BEREANS WHO SEE JESUS - INTRODUCTION
7
and additions to this book, please sign up at www.mathusee.com/stewardship.
Let me share an additional note that my sons have
taught me. For those of you who are teaching your children biblical principles, be careful that you make a distinction between your opinion and God’s opinion as
taught in the revealed Word of God. May I remind you
how easy it is to misuse our authority as parents as a bully
pulpit for our own ideas, when it is God’s ideas we should
be pursuing. May I encourage us each to read, pray, and
seek God for those principles that will endure. Let’s take
our children to God, and His Word, for guidance that will
never disappoint.
“Heaven and earth shall pass away, but my words shall
not pass away” Matthew 24:35.
As you study God’s Word, I hope you will not only
learn more about biblical principles, but also about God
Himself. There are over 1,000 references to money in the
Bible. Many of them are located in the book of Proverbs.
The aim of Stewardship is to help you learn and apply wisdom to the study of our personal finances. It is not about
how to make more money, how to develop a personal fortune, or how to make your first million before you are 30.
The focus is to learn to see money and think about finances
the way God does and to be transformed by the renewing
of our mind, so we are not conformed to the world’s way of
looking at this critical area in our lives.
As you read Proverbs and learn about wisdom, let me
encourage you not only to see the biblical principle, but
also to see Jesus. Proverbs 8:22–32 helped me see that Jesus is wisdom in the flesh. When I read this passage, I hear
6
INTRODUCTION - BELIEVING BEREANS WHO SEE JESUS STEWARDSHIP
These scriptures have marked my life lately.
Recognizing that God is the source of all I need, I have
found myself asking more and more, and receiving more
and better. As the hymn says, “All I have needed Thy hand
hath provided.”
As you read these short devotions, if there is any area
where you sense a need for God’s help, simply ask God to
meet your need, but ask according to His will. We are assured that our good God, who desires only what is best for
us, will do what we ask, as long as it is according to His will.
And we know His will because we have His revealed Word,
the Bible.
For example, in lesson 1 we are considering that we do
not own anything. The earth is His, and I need to be reminded of this. We can apply this principle and pray something like this: “God, by Your good Spirit, remind me daily
that all the things I have are from You. Help me to be a wise
and faithful steward of the resources at my disposal.”
This is a part of what it means to be a lifelong learner or
disciple. When we hear something that we want to put into
practice, we commit it to the Lord and trust Him to make
it a part of our lives. We ask Him to write it on our hearts
so we will be doers of the Word and not hearers only.
“Ye are an epistle of Christ . . . written not with
ink, but with the Spirit of the living God; not in tables
of stone, but in tables that are hearts of flesh”
2 Corinthians 3:3, ASV.
“But be ye doers of the word, and not hearers only”
James 1:22.
STEWARDSHIP BELIEVING BEREANS WHO SEE JESUS - INTRODUCTION
9
“For the merchandise of it is better than the merchandise of silver, and the gain thereof than fine gold. She is
more precious than rubies: and all the things thou canst desire are not to be compared unto her” Proverbs 3:14–15.
Wisdom is better than things, and that includes
money.
“Length of days is in her right hand; and in her left
hand riches and honour. Her ways are ways of pleasantness,
and all her paths are peace” Proverbs 3:16–17.
The benefits of following after wisdom and/or following Jesus are a long life, riches, honor, and peace.
“She is a tree of life to them that lay hold upon her: and
happy is every one that retaineth her” Proverbs 3:18.
What great promises for the one who believes in and
receives Jesus! Those who lay hold of Jesus and retain Him
will soon find His blessing following along as day follows
night. A tree of life and a blessed, happy life.
God encourages us to ask. At the end of each lesson,
you will find a scripture or a prayer. I hope these will be a
useful aid for you in asking for, and connecting with, the
grace of God.
“And I say unto you, Ask, and it shall be given you”
Luke 11:9.
“. . . Ye have not, because ye ask not. Ye ask, and receive
not, because ye ask amiss, that ye may spend it in your pleasures” James 4:2–3, ASV.
“And this is the boldness which we have toward him,
that, if we ask anything according to his will, he heareth
us: and if we know that he heareth us whatsoever we ask,
we know that we have the petitions which we have asked of
him” 1 John 5:14–15, ASV.
8
ж
STUDENT SOLUTIONS
Student Solutions
Lesson Practice 1.1
1. 34 × 6.00 = $204.00
5. 18.33 x 2,000 = $36,660
6. 44,500 ÷ 2,000 = $22.25
7. 112,000 x .06 = $6,720.00
2. Time and a half is 6.00 x 1.5 = $9.00
(40 x 6.00) + (3.5 x 9.00) = $271.50
8. .60 x 47 = $28.20
28.20 ÷ 3.25 = $8.68
3. Time and a half is 6.00 x 1.5 = $9.00
(40 x 6.00) + (7 x 9.00) = $303.00
9. 83 x .45 = $37.35
37.35 ÷ 3.5 = $10.67
4. 34 + 43.5 + 47 = 124.5
204.00 + 271.50 + 303.00 = $778.50
$778.50 ÷ 124.5 = $6.25
10. Answers may vary.
Hourly wages mean a regular paycheck,
easier to budget.
5. 11.75 x 2,000 = $23,500
6. 27,000 ÷ 2,000 = $13.50
A commission rewards extra effort
or skill.
7. 79,500 x .03 = $2,385.00
8. .11 x 100 x 8 = $88.00
$88.00 ÷ 6 = $14.67
9. 25 x 1.25 = $31.25
31.25 ÷ 2.75 = $11.36
Lesson Review 1.3
10. Answers may vary.
1. (7.50) x 25 = $187.50
by the hour - You can count on getting
a certain amount no matter how much
work is accomplished.
2. 7.50 x 2.5 = $11.25 time and a half
(40 x 7.5) + (1 x 11.25) = $311.25
3. (8.25 x 40 x 50) = $16,500.00 if we
assume a 50 week work year
by the piece - If you work faster, you
can earn more.
4. $52,500.00 ÷ 2000 = $26.25
5. .15 x 950 = $142.50
6. Bereans, Acts 17:11
Lesson Practice 1.2
7. 1 John 5:14–15, Luke 11:9,
James 4:2–3
1. 10.75 x 38.5 = $413.88
2. Time and a half is 10.75 x 1.5 = 16.13
(40 x 10.75) + (11 x 16.13) = $607.43
3. Time and a half is 10.75 x 1.5 = 16.13
(40 x 10.75) + (8.25 x 16.13) =
$563.07
4. 38.5 + 51 + 48.25 = 137.75
413.88 + 607.43 + 563.07 =$1,584.38
1,584.38 ÷ 137.75 = $11.50
8. “according to his will” 1 John 5:14–15
9.
God, Psalm 50:10
10. Answers may vary: someone who takes
care of what belongs to someone else
Lesson Review 1.4
1. 9.25 x 38 = $351.50
LESSON PRACTICE 1.1 – LESSON REVIEW 1.4
173
SO L UTIO NS
2. $9.25 x 1.5 = $13.88 (rounded)
(9.25 x 40) + (13.88 x 8) =
370 + 111.04 = $481.04
11. 573.92 x .01 = $5.74
573.92 + 5.74 = 579.66
3. 20 x 2000 = $40,000.00
4. 75,000.00 ÷ 2000 = $37.50
5. 375 x .20 = $75.00
6. Blessed
7. Proverbs 8:22-32
8. When he prepared the heavens,
Jesus was there: When he set a
compass upon the face of the depth
Proverbs 8:27
Then Jesus was by him, as one brought
up with him; and Jesus was daily his
delight, Rejoicing always before him,
Proverbs 8:30
9. faithfulness
10. and upon the earth beneath
Lesson Practice 2.2
1. 76.85 x .16 = $12.30
2. 7
6.85 x .0675 = $5.19
3. 76.85 + 12.30 + 5.19 = $94.34
Answers may vary. $94.00 or $95.00
4. 93.20 x .15 = $13.98
5. T
his will vary, between $10.00
and $13.00
6. 93.20 x .0725 = $6.76
7. 9
3.20 + 6.76 = $99.96
Add $12.04 to make it $112.00
(this may vary)
8. $1,299.00
9. $265.00 – full amount
10. 1,002.73 x .02 = 20.05
1,002.73 – 20.05 = $982.68
Lesson Practice 2.1
11. $1,002.73
1. 37.25 x .15 = $5.59
2. 37.25 x .05 = $1.86
3. 37.25 + 5.59 + 1.86 = $44.70
Add 30¢ (or $.30), since
44.70 + .30 = $45.00
Lesson Review 2.3
1. 29.60 x .16 = $4.74
4. 26.95 x .15 = $4.04
2. 29.60 x .06 = $1.78
5. More than $4.04, probably $5.00
3. $1,075.00
or $6.00
4. 573.92 x .05 = $28.70
6. 26.95 x .05 = $1.35
5. 573.92 x .01 = $5.74
7. 26.95 + 4.04 + 1.35 = $32.34
6. (12 x 100) x .15 = $180.00,
.66 to make it 33.00
1.66 to make it 34.00
8. 874.50 – 8.75 (rounded) = $865.75
9. Yes, I should. 1,358 x .02 = $27.16
10. 573.92 x .05 = $28.70
573.92 – 28.70 = $545.22
$180.00 ÷ 15 = $12.00
7. 54 x 1.05 = $56.70
56.70 ÷ 4 = $14.18
8. no, the love of money is, 1 Tim 6:10
9. heart, soul, mind, strength
10. No, Luke 16:13
174
LESSO N P R A C T I C E 2 . 1 – L E S S O N R E V I E W 2 . 3
STEWARDSHIP
S O LU TI ONS
Lesson Review 2.4
6. Paycheck.................. $2,340.00
Federal Withholding... $ 280.80
State............................ $ 71.84
County......................... $ 38.61
FICA........................... $ 145.08
FICA............................. $ 33.93
SUI................................. $ 2.11
Total........................... $572.37
1. 9.50 x 4 = $38.00
2. Tax = $2.47, tip = $1.90,
38.00 + 2.47 + 1.90 = $42.37
3. 2,857 x .02 = $57.14
4. 1,002 x .02 = $20.05
5. $1,002.73
6. 1.25 x 42 = $52.50,
2,340.00 – 572.37 = $1,767.63
7. $176.76
52.5 ÷ 4 = $13.13
7. 103 x .60 = $61.80,
61.80 ÷ 5 = $12.36
8. Anything we look to in order to supply
what only God can provide.
Lesson Practice 3.2
1. Paycheck
9. Lovers of money
485 x .11 x 100 = $5,335.00
10. He had great possessions.
2. Federal Withholding... $ 106.70
State.......................... $ 163.78
County......................... $ 88.03
FICA........................... $ 330.77
FICA............................. $ 77.36
SUI................................. $ 4.80
Total........................... $771.44
Lesson Practice 3.1
1. 22,800 ÷ 26 = $876.92
aycheck..................... $876.92
P
Federal Withholding..... $ 74.54
State............................ $ 26.92
County......................... $ 14.47
FICA............................. $ 54.37
FICA............................. $ 12.72
SUI.................................... $.79
Total........................... $183.81
3. 40 x 17.75 = $710.00
4. (5)(17.75)(1.5) = $133.13
710.00 + 133.13 = $843.13
5. Paycheck..................... $843.13
Federal Withholding..... $ 75.88
State ........................... $ 25.88
County ........................ $ 13.91
FICA ............................ $ 52.27
FICA ............................ $ 12.23
SUI ................................... $.76
Total .......................... $180.93
2. Federal Withholding
3. SUI
4. FUTA.............................. $ 7.02
FICA............................. $ 54.37
FICA............................. $ 12.72
SUI............................... $ 18.17
Total............................. $92.28
843.13 – 180.93 = $662.20
6. FUTA ............................. $ 6.75
5. 78,000.00 x .03 = $2,340.00
$2,340.00 x 50 = $117,000.00 yearly
117,000.00 ÷ 50 = $2,340.00 weekly
FICA ............................ $ 52.27
FICA ............................ $ 12.23
SUI .............................. $ 17.47
Total ............................ $88.72
7. $84.31
STEWARDSHIP
L E SS O N R E VI E W 2 .4 – L E S SO N P R A C T I C E 3 .2
175
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Lesson Review 3.3
Lesson Review 3.4
1 $43,500.00 divided by 26 = $1,673.08
1. 125 x 40 x .65 = $3,250
ederal Withholding.... $142.21
F
State............................ $ 51.36
County......................... $ 27.61
FICA........................... $ 103.73
FICA............................. $ 24.26
SUI................................. $ 1.51
Total........................... $350.68
2. 8.5
3.07
1.65
6.2
1.45
+ .09
20.96%
3. 1673.08 – 350.68 = $1,322.40
4. FUTA............................ $ 13.38
FICA........................... $ 103.73
FICA............................. $ 24.26
SUI............................... $ 45.51
Total........................... $186.88
2. Federal
Withholding................. $ 65.00
State............................ $ 99.78
County ........................ $ 53.63
FICA........................... $ 201.50
FICA............................. $ 47.13
SUI................................. $ 2.93
Total........................... $469.97
3. 38 x 15.25 = $579.50
4. 579.50 x 16 = $9272.00
5. 579.50 x .10 = $57.95
6. 37.75 + 1.89 = $39.64
7. 37.75 x .16 = 6.04
they saved $6.04
8. gave
9. unselfishly giving
10. polar opposites
5. 1322.40 x .10 = $132.24
6. $51.65, $3.15 tax
7. .18 x 48.50 = $8.73
51.65 + 8.73 = $60.38, so $61.00
8. Thou shalt not kill. Thou shalt
Lesson Practice 4.1
1. Any 2 of the following answers
would be correct: Checking, Savings,
Loans, ATM
not steal. Exodus 20:13, 15
2. members of the community
9. loving
3. fees
10. And one of them, a lawyer, asked
4. maintain a larger balance
in your account
him a question, trying him: ‘Teacher,
which is the great commandment in the
law?’
And he said unto him, Thou shalt love
the Lord thy God with all thy heart,
and with all thy soul, and with all thy
mind. This is the great and first commandment. And a second like unto it is
this, Thou shalt love thy neighbor as
thyself. Matthew 22:37-40 ASV
176
LESSO N REV I EW 3. 3 – LESSON PR A C T I C E 4 .1
5. security, trust, fidelity
6. mortgage
7. Automated Teller Machine
8. Answers may vary.
STEWARDSHIP
ж
STUDENT SOLUTIONS
Student Solutions
Lesson Practice 1.1
1. 34 × 6.00 = $204.00
5. 18.33 x 2,000 = $36,660
6. 44,500 ÷ 2,000 = $22.25
7. 112,000 x .06 = $6,720.00
2. Time and a half is 6.00 x 1.5 = $9.00
(40 x 6.00) + (3.5 x 9.00) = $271.50
8. .60 x 47 = $28.20
28.20 ÷ 3.25 = $8.68
3. Time and a half is 6.00 x 1.5 = $9.00
(40 x 6.00) + (7 x 9.00) = $303.00
9. 83 x .45 = $37.35
37.35 ÷ 3.5 = $10.67
4. 34 + 43.5 + 47 = 124.5
204.00 + 271.50 + 303.00 = $778.50
$778.50 ÷ 124.5 = $6.25
10. Answers may vary.
Hourly wages mean a regular paycheck,
easier to budget.
5. 11.75 x 2,000 = $23,500
6. 27,000 ÷ 2,000 = $13.50
A commission rewards extra effort
or skill.
7. 79,500 x .03 = $2,385.00
8. .11 x 100 x 8 = $88.00
$88.00 ÷ 6 = $14.67
9. 25 x 1.25 = $31.25
31.25 ÷ 2.75 = $11.36
Lesson Review 1.3
10. Answers may vary.
1. (7.50) x 25 = $187.50
by the hour - You can count on getting
a certain amount no matter how much
work is accomplished.
2. 7.50 x 2.5 = $11.25 time and a half
(40 x 7.5) + (1 x 11.25) = $311.25
3. (8.25 x 40 x 50) = $16,500.00 if we
assume a 50 week work year
by the piece - If you work faster, you
can earn more.
4. $52,500.00 ÷ 2000 = $26.25
5. .15 x 950 = $142.50
6. Bereans, Acts 17:11
Lesson Practice 1.2
7. 1 John 5:14–15, Luke 11:9,
James 4:2–3
1. 10.75 x 38.5 = $413.88
2. Time and a half is 10.75 x 1.5 = 16.13
(40 x 10.75) + (11 x 16.13) = $607.43
3. Time and a half is 10.75 x 1.5 = 16.13
(40 x 10.75) + (8.25 x 16.13) =
$563.07
4. 38.5 + 51 + 48.25 = 137.75
413.88 + 607.43 + 563.07 =$1,584.38
1,584.38 ÷ 137.75 = $11.50
8. “according to his will” 1 John 5:14–15
9.
God, Psalm 50:10
10. Answers may vary: someone who takes
care of what belongs to someone else
Lesson Review 1.4
1. 9.25 x 38 = $351.50
LESSON PRACTICE 1.1 – LESSON REVIEW 1.4
173
SO L UTIO NS
2. $9.25 x 1.5 = $13.88 (rounded)
(9.25 x 40) + (13.88 x 8) =
370 + 111.04 = $481.04
11. 573.92 x .01 = $5.74
573.92 + 5.74 = 579.66
3. 20 x 2000 = $40,000.00
4. 75,000.00 ÷ 2000 = $37.50
5. 375 x .20 = $75.00
6. Blessed
7. Proverbs 8:22-32
8. When he prepared the heavens,
Jesus was there: When he set a
compass upon the face of the depth
Proverbs 8:27
Then Jesus was by him, as one brought
up with him; and Jesus was daily his
delight, Rejoicing always before him,
Proverbs 8:30
9. faithfulness
10. and upon the earth beneath
Lesson Practice 2.2
1. 76.85 x .16 = $12.30
2. 7
6.85 x .0675 = $5.19
3. 76.85 + 12.30 + 5.19 = $94.34
Answers may vary. $94.00 or $95.00
4. 93.20 x .15 = $13.98
5. T
his will vary, between $10.00
and $13.00
6. 93.20 x .0725 = $6.76
7. 9
3.20 + 6.76 = $99.96
Add $12.04 to make it $112.00
(this may vary)
8. $1,299.00
9. $265.00 – full amount
10. 1,002.73 x .02 = 20.05
1,002.73 – 20.05 = $982.68
Lesson Practice 2.1
11. $1,002.73
1. 37.25 x .15 = $5.59
2. 37.25 x .05 = $1.86
3. 37.25 + 5.59 + 1.86 = $44.70
Add 30¢ (or $.30), since
44.70 + .30 = $45.00
Lesson Review 2.3
1. 29.60 x .16 = $4.74
4. 26.95 x .15 = $4.04
2. 29.60 x .06 = $1.78
5. More than $4.04, probably $5.00
3. $1,075.00
or $6.00
4. 573.92 x .05 = $28.70
6. 26.95 x .05 = $1.35
5. 573.92 x .01 = $5.74
7. 26.95 + 4.04 + 1.35 = $32.34
6. (12 x 100) x .15 = $180.00,
.66 to make it 33.00
1.66 to make it 34.00
8. 874.50 – 8.75 (rounded) = $865.75
9. Yes, I should. 1,358 x .02 = $27.16
10. 573.92 x .05 = $28.70
573.92 – 28.70 = $545.22
$180.00 ÷ 15 = $12.00
7. 54 x 1.05 = $56.70
56.70 ÷ 4 = $14.18
8. no, the love of money is, 1 Tim 6:10
9. heart, soul, mind, strength
10. No, Luke 16:13
174
LESSO N P R A C T I C E 2 . 1 – L E S S O N R E V I E W 2 . 3
STEWARDSHIP
S O LU TI ONS
Lesson Review 2.4
6. Paycheck.................. $2,340.00
Federal Withholding... $ 280.80
State............................ $ 71.84
County......................... $ 38.61
FICA........................... $ 145.08
FICA............................. $ 33.93
SUI................................. $ 2.11
Total........................... $572.37
1. 9.50 x 4 = $38.00
2. Tax = $2.47, tip = $1.90,
38.00 + 2.47 + 1.90 = $42.37
3. 2,857 x .02 = $57.14
4. 1,002 x .02 = $20.05
5. $1,002.73
6. 1.25 x 42 = $52.50,
2,340.00 – 572.37 = $1,767.63
7. $176.76
52.5 ÷ 4 = $13.13
7. 103 x .60 = $61.80,
61.80 ÷ 5 = $12.36
8. Anything we look to in order to supply
what only God can provide.
Lesson Practice 3.2
1. Paycheck
9. Lovers of money
485 x .11 x 100 = $5,335.00
10. He had great possessions.
2. Federal Withholding... $ 106.70
State.......................... $ 163.78
County......................... $ 88.03
FICA........................... $ 330.77
FICA............................. $ 77.36
SUI................................. $ 4.80
Total........................... $771.44
Lesson Practice 3.1
1. 22,800 ÷ 26 = $876.92
aycheck..................... $876.92
P
Federal Withholding..... $ 74.54
State............................ $ 26.92
County......................... $ 14.47
FICA............................. $ 54.37
FICA............................. $ 12.72
SUI.................................... $.79
Total........................... $183.81
3. 40 x 17.75 = $710.00
4. (5)(17.75)(1.5) = $133.13
710.00 + 133.13 = $843.13
5. Paycheck..................... $843.13
Federal Withholding..... $ 75.88
State ........................... $ 25.88
County ........................ $ 13.91
FICA ............................ $ 52.27
FICA ............................ $ 12.23
SUI ................................... $.76
Total .......................... $180.93
2. Federal Withholding
3. SUI
4. FUTA.............................. $ 7.02
FICA............................. $ 54.37
FICA............................. $ 12.72
SUI............................... $ 18.17
Total............................. $92.28
843.13 – 180.93 = $662.20
6. FUTA ............................. $ 6.75
5. 78,000.00 x .03 = $2,340.00
$2,340.00 x 50 = $117,000.00 yearly
117,000.00 ÷ 50 = $2,340.00 weekly
FICA ............................ $ 52.27
FICA ............................ $ 12.23
SUI .............................. $ 17.47
Total ............................ $88.72
7. $84.31
STEWARDSHIP
L E SS O N R E VI E W 2 .4 – L E S SO N P R A C T I C E 3 .2
175
SO L UTIO NS
Lesson Review 3.3
Lesson Review 3.4
1 $43,500.00 divided by 26 = $1,673.08
1. 125 x 40 x .65 = $3,250
ederal Withholding.... $142.21
F
State............................ $ 51.36
County......................... $ 27.61
FICA........................... $ 103.73
FICA............................. $ 24.26
SUI................................. $ 1.51
Total........................... $350.68
2. 8.5
3.07
1.65
6.2
1.45
+ .09
20.96%
3. 1673.08 – 350.68 = $1,322.40
4. FUTA............................ $ 13.38
FICA........................... $ 103.73
FICA............................. $ 24.26
SUI............................... $ 45.51
Total........................... $186.88
2. Federal
Withholding................. $ 65.00
State............................ $ 99.78
County ........................ $ 53.63
FICA........................... $ 201.50
FICA............................. $ 47.13
SUI................................. $ 2.93
Total........................... $469.97
3. 38 x 15.25 = $579.50
4. 579.50 x 16 = $9272.00
5. 579.50 x .10 = $57.95
6. 37.75 + 1.89 = $39.64
7. 37.75 x .16 = 6.04
they saved $6.04
8. gave
9. unselfishly giving
10. polar opposites
5. 1322.40 x .10 = $132.24
6. $51.65, $3.15 tax
7. .18 x 48.50 = $8.73
51.65 + 8.73 = $60.38, so $61.00
8. Thou shalt not kill. Thou shalt
Lesson Practice 4.1
1. Any 2 of the following answers
would be correct: Checking, Savings,
Loans, ATM
not steal. Exodus 20:13, 15
2. members of the community
9. loving
3. fees
10. And one of them, a lawyer, asked
4. maintain a larger balance
in your account
him a question, trying him: ‘Teacher,
which is the great commandment in the
law?’
And he said unto him, Thou shalt love
the Lord thy God with all thy heart,
and with all thy soul, and with all thy
mind. This is the great and first commandment. And a second like unto it is
this, Thou shalt love thy neighbor as
thyself. Matthew 22:37-40 ASV
176
LESSO N REV I EW 3. 3 – LESSON PR A C T I C E 4 .1
5. security, trust, fidelity
6. mortgage
7. Automated Teller Machine
8. Answers may vary.
STEWARDSHIP